{"id":561,"date":"2019-10-17T10:59:56","date_gmt":"2019-10-17T16:59:56","guid":{"rendered":"http:\/\/dev-centralloancompany.spectrumtechteam.com\/?page_id=561"},"modified":"2022-10-18T07:38:28","modified_gmt":"2022-10-18T14:38:28","slug":"faqs","status":"publish","type":"page","link":"https:\/\/www.centralloancompany.com\/faqs\/","title":{"rendered":"FAQs"},"content":{"rendered":"\t\t
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Home<\/a><\/span><\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat does my credit score have to be to get a loan?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

We don’t base our decision on your credit score but what your credit report shows. We look at the status of past and open accounts.\u00a0 We also take into consideration other factors such as the time at the job, income and debt.\u00a0<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat if I have filed Bankruptcy in the past? <\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

As long as the case has been discharged, we look at how you have handled accounts after the bankruptcy and if you have had no new accounts after the bankruptcy you will need a cosigner to help you established your credit again.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tDo you report to the credit bureaus?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

We report to Experian once every month.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tDo you make loans for people who receive SSI or retirement?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Yes, we do accept proof of income from SSI or retirement but the loan will still be based on your credit history and your debt to income ratio.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are your interest rates?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

Interest rates vary. Central loans will not focus strictly on credit score but we do take it into consideration. Rates vary and are based on credit worthiness. Repeat customers do have established credit with Central Loan Company. <\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tAre you a payday loan company?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

No, a payday loan\u00a0is a type of short-term loan where a lender will extend high-interest credit based on a borrower’s income. Payday loans can have APR’s as high as 400%.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tDo you make title loans?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

We specialize in installment loans but we can use a vehicle title to secure your loan with us.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs there a penalty for paying off early?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

There is no penalty to paying off early or extra. If anything this will reduce the overall amount of interest paid when your loan is paid off.<\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tOn what do you base your approvals?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

We take into consideration time at the job, debt to income ratio, credit history and value of the collateral if any.\u00a0<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

What does my credit score have to be to get a loan? We don’t base our decision on your credit score but what your credit report shows. We look at the status of past and open accounts.\u00a0 We also take into consideration other factors such as the time at the job, income and debt.\u00a0 What […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0},"yoast_head":"\nFAQs - Central Loan Company LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.centralloancompany.com\/faqs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAQs - Central Loan Company LLC\" \/>\n<meta property=\"og:description\" content=\"What does my credit score have to be to get a loan? 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